Binance bags its first European license in France

Binance has received regulatory approval in France, as the world’s largest cryptocurrency exchange continues its global expansion and push for regulatory compliance.

Fast facts

• Binance has obtained a digital asset service provider (DASP) registration with France’s Autorité des marchés financiers (AMF), the finance market watchdog said Wednesday.
• The registration will allow Binance to offer digital asset custody services and operate a trading platform for buying and selling cryptocurrencies in France.
• This is Binance’s first DASP approval from regulators in Europe, the company said Thursday.
• Changpeng Zhao, founder and CEO of Binance, shared a media interview on Twitter where he said Binance would make Paris its European hub following the approval.
• Binance has been on a major compliance drive, recently obtaining licenses in Dubai, Bahrain and Abu Dhabi.